EU has set up $80b fund for SMEs doing business with Iran: report

TEHRAN – Mohammad-Hossein Adeli, the former secretary general of the Gas Exporting Countries Forum (GECF), has said that the European Union has established an $80 billion fund to give credit to small and medium enterprises doing business with Iran, the Persian language Hamshahri newspaper reported on Wednesday.

“European authorities are seriously interested in resisting U.S. restrictions on cooperation of European countries with Iran,” Adeli said, the newspaper reported.

According to Adeli, who was the governor of Iran’s central bank from 1989–1994, said Iranian companies can also apply for loans and budget from the fund.

Pointing to a recent summit held in Brussels on Iran-Europe cooperation in which he was present, he said European leaders stressed that they are determined to preserve their economic ties with Iran.